Children's Place Delays Earnings Release

The retailer cites its ongoing stock options investigation.
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Children's Place

(PLCE) - Get Report

will delay its third-quarter earnings release due to an ongoing probe into its options practices.

The third-quarter release, originally planned for Thursday, now won't occur until after the investigation is concluded, the kids' apparel retailer said Monday.

The company said its audit committee has requested that the company's outside counsel perform additional analysis of various stock option grants to determine whether they affect previously reached conclusions.

On Sept. 7, Children's Place said it found instances in which the company's records did not correctly reflect the legal grant date for stock options granted to employees and directors, resulting in errors in the dating of the options.

The company has said it will restate results for the affected periods and that the

Securities and Exchange Commission

has launched an informal probe into the matter.